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2018-08-14 10:04:34

PYPL

PayPal

$86.66

-0.37 (-0.43%)

, SQ

Square

$73.74

1.37 (1.89%)

10:04

08/14/18

08/14

10:04

08/14/18

10:04

Technical Take: Square hits new life high after positive Nomura note

As previously reported, Nomura put out a note saying that cumulative downloads of Square's Cash app surpassed PayPal's Venmo for the first time according to the firm's July data. Nomura raised its price target on Square (SQ) to $86. At the current price of $74.06, initial resistance is at the new high set today at $74.90. Thereafter there is no established resistance, opening up a run to the $77.50-$80 area. Support is at the current low of the day at $73.48.

Baird analyst Colin Sebastian raised his price target on PayPal to $96 from $88 following Q2 results. The analyst said the results are another validation of the company's "open platform" and consumer focused strategy to generate meaningful revenue and earnings growth. He also sees market shares gains in digital payments largely through M&A activity. Sebastian reiterated his Outperform rating on PayPal shares.

07/26/18

CHLM

07/26/18NO CHANGETarget $100CHLMBuy

PayPal price target raised to $100 from $93 at Craig-Hallum

Craig-Hallum analyst Bradley Berning raised his price target for PayPal to $100 from $93, while reiterating a Buy rating on the shares. While the stock was weak after hours on concerns over "quality of beat," the seasonally slower new account quarter, and dilution to 2019 from recent acquisitions, the analyst believes investors should use this opportunity to buy the stock.

07/27/18

RHCO

07/27/18NO CHANGETarget $240RHCOBuy

MasterCard price target raised to $240 from $215 at SunTrust

SunTrust analyst Andrew Jeffrey raised his price target on MasterCard to $240 and kept his Buy rating, saying the company is demonstrating expansion of global market share while posting a 14% Q2 volume growth. The analyst adds that while MasterCard has a higher valuation than PayPal (PYPL) and Visa (V) - a 10% relative EBITDA premium - it is justified and may even be too narrow given its superior growth sustainability and margin upside.

08/14/18

NOMU

08/14/18NO CHANGETarget $86NOMUBuy

Square Cash App surpassed PayPal's Venmo for first time in July, says Nomura

Nomura Instinet analyst Dan Dolev raised his price target for Square (SQ) to $86 from $82 after his firm's July payments app tracker showed cumulative Square Cash App downloads surpassed PayPal's (PYPL) Venmo for the first time. Cash App downloads in July of 33.5M marked the highest monthly addition on record, Dolev tells investors in a research note. The analyst says the Square Cash App is growing three times faster than Venmo. He keeps a Buy rating on Square shares.

SQSquare

$73.74

1.37 (1.89%)

08/06/18

BUCK

08/06/18UPGRADETarget $42BUCKBuy

Square upgraded to Buy on revenue acceleration at Buckingham

As previously reported, Buckingham upgraded Square to Buy from Neutral and raised its price target to $85 from $65. Analyst Chris Brendler said the Q2 strong results reduced his concerns about high valuation and competition and said there is no reason why Square will not continue to report better-then-expected core revenue growth into 2020. Brendler said long-run adjusted EBITDA margins of 40-50% justify a higher valuation.

08/06/18

08/06/18UPGRADE

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Comcast (CMCSA) upgraded to Overweight from Neutral at Atlantic Equities with analyst Hamilton Faber saying he believes "the bulk of the M&A storm" has passed. 2. Qualcomm (QCOM) upgraded to Outperform from Market Perform at Cowen with analyst Matthew Ramsay citing the company's $30B buyback and saying he believes the shares offer a compelling risk/reward with effects of lower spending, solid customer performance, and potential QTL resolutions. 3. Square (SQ) upgraded to Buy from Neutral at Buckingham with analyst Chris Brendler saying the Q2 strong results reduced his concerns about high valuation and competition and said there is no reason why Square will not continue to report better-then-expected core revenue growth into 2020. 4. Parker-Hannifin (PH) upgraded to Outperform from In Line at Evercore ISI with analyst David Raso saying the company's recent operational struggles are behind it with this quarters report and views 2019 guidance as conservative. 5. Intercept (ICPT) upgraded to Buy from Sell at Goldman Sachs with analyst Salveen Richter saying Ocaliva in fatty liver disease nonalcoholic steatohepatitis is the crux of Intercept's value proposition and that he's positive into the Phase 3 Regenerate interim readout in the first half of 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

08/06/18

08/06/18NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street

Check out today's top analyst calls from around Wall Street, compiled by The Fly. INTERCEPT DOUBLE UPGRADED AT GOLDMAN: Goldman Sachs analyst Salveen Richter double upgraded Intercept Pharmaceuticals (ICPT) to Buy from Sell and raised his price target for the shares to $157 from $46. The analyst said Ocaliva in fatty liver disease nonalcoholic steatohepatitis is the crux of Intercept's value proposition and that he's positive into the Phase 3 Regenerate interim readout in the first half of 2019. Intercept should benefit from Ocaliva's global first-mover advantage in NASH, Richter said. In late morning trading, Intercept shares are up 12%. BUCKINGHAM UPGRADES SQUARE TO BUY: Buckingham upgraded Square (SQ) to Buy from Neutral and raised its price target to $85 from $65. Analyst Chris Brendler said the strong Q2 results reduced his concerns about high valuation and competition and said there is no reason why Square will not continue to report better then expected core revenue growth into 2020. Brendler said long-run adjusted EBITDA margins of 40%-50% justify a higher valuation. PIPER CUTS ACADIA TO NEUTRAL: Piper Jaffray analyst Danielle Brill downgraded Acadia Pharmaceuticals (ACAD) to Neutral from Overweight and cut her firm's price target on shares to $19 from $61 after taking over coverage of the name. The recent negative headlines related to potential Nuplazid safety issues will continue to weigh on sales and the shares for the foreseeable future, Brill said. Further, the analyst does not have a high level of conviction for positive data from Acadia's near-term catalysts, namely the Phase 2 major depressive disorder data in September and the Phase 2 negative schizophrenia symptoms readout in the first half of 2019. BARCLAYS CUTS INTEL TO EQUAL WEIGHT: Barclays analyst Blayne Curtis downgraded Intel (INTC) to Equal Weight from Overweight and cut his price target for the shares to $53 from $62. The analyst believes upside in the shares will be challenging until the company's margins bottom. JEFFERIES SAYS OHIO INCIDENT NOT A RISK TO CHIPOTLE TRAFFIC: After analyzing digital engagement with the brand from last week and compared to the Virginia incident last July, Jefferies analyst Andy Barish does not believe the illnesses at the Ohio restaurant put Chipotle Mexican Grill's (CMG) traffic trends at risk. The analyst believes Chipotle's procedures were followed in Ohio, the number of cases was not substantiated, and the company did a better job controlling the narrative and taking action. Barish kept a Buy rating on Chipotle shares with a $550 price target.

HIGHER: Newmont Mining (NEM), up 2% after Bloomberg reports Barrick Gold (GOLD) has studied a bid for the company as it looks for ways to boost production... Achieve Life Sciences (ACHV), up 62% after announcing final data from their Phase I/II multi-dose, pharmacokinetic and pharmacodynamics clinical study of cytisinicline in smokers... Intel (INTC), up 3% after Morgan Stanley analyst Joseph Moore upgraded shares to Overweight from Equal Weight, citing his belief that shares "can rerate higher" given that the company has put "a more financially oriented CEO" in charge with the appointment of Robert Swan. UP AFTER EARNINGS: Wayfair (W), up 16%... Trade Desk (TTD), up 18%. DOWN AFTER EARNINGS: Kraft Heinz (KHC), down 25%... Stamps.com (STMP), down 52%... AutoNation (AN), down 4%. ALSO LOWER: Fitbit (FIT), down 1% after Wedbush analyst Michael Pachter downgraded the stock to Neutral from Outperform, as shares have reached his $6.50 price target with no new available information on the MedTech opportunity... Lam Research (LRCX), down 2% after Morgan Stanley analyst Joseph Moore downgraded shares to Equal Weight from Overweight, stating that if he is right in his view that memory margins will continue to fade through the second half of this year than wafer fab equipment spending may continue to weaken into 2020.